Honoring God With Our Money: Principles of Budgeting

In our study of how to honor God with our money, we are now entering the practical application phase. This week we examine principles of budgeting. In the coming weeks, we will focus on applying budget principles, practical money management tips, living debt-free, and cultivating true wealth.

Theme Verse:

1 Timothy 6:17 “Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment.”

Budgeting Principles

1) Recognize that everything belongs to God. We are stewards of those possessions God has entrusted to us. We have an obligation to be good and faithful stewards.

Psalm 24:1 “The earth is the _______________, and everything in it; the ____________, and all who live in it;”

Psalm 50: 9 – 12 “I have no need of a bull from your stall or of goats from your pens, for every ______________ of the forest is mine, and the ______________ on a thousand hills. I know every bird in the ______________, and the insects in the fields are mine. If I were ______________ I would not tell you, for the ______________is mine, and all that is in it.”

2) Tithe. God asks us to give back the first portion of what He has given us. The first tenth of our income should be tithed to do God’s work.

(For Scriptures on tithing, please refer to Lesson 4.)

3) Meet the needs of your family.

I Timothy 5:8 “If anyone does not provide for his __________________, and especially his immediate _______________, he has denied the faith and is worse than an _______________.”

4) Pay debts and obligations.

Psalm 37:21 “The wicked _____________and do not __________, but the righteous give ____________________.”

5) Establish short-term and long-term savings plans.

Proverbs 21:20 “In the house of the _____________ are stores of choice food and oil, but a foolish man ____________all he has.”

Proverbs 6:6-8 “Go to the ant, you ____________; consider its ways and be wise! It has no commander, o overseer or ruler, yet it stores its _______________ in summer and gathers its ______________ at harvest.”

6) Set aside money for recreation and leisure.

7) Give money to charitable causes.

Proverbs 22:9 “A __________________man will himself be blessed, for he shares his _____________ with the __________.”